FLOOR PLAN and DIMENSION

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FINANCING	BANK	IN-HOUSE
Rate of Down payment:	12.5%	30%
Months to pay in installment:	15 mos.	24 mos.
Estimated time to move-in:	After 15 - 18 mos.	After 15 - 18 mos.
Selling Price	Php 2,530,000.00	Php 2,530,000.00
Add:  Processing Fees	202,400.00	113,850.00
Total Contract Price	2,732,400.00	2,643,850.00
Down payment required	341,550.00	793,155.00
Less: Reservation fee	20,000.00	20,000.00
Down payment  by installment	321,550.00	773,155.00
Monthly Down payment	21,436.67	32,214.79
Balance Loanable to Bank	Php    2,390,850.00	Php   1,850,695.00

5 Years	51,855.46	47,849.90
10 Years	32,652.23	37,855.66
15 Years	26,749.16
20 Years	24,129.19

BANK FINANCING

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After paying the down payment, the buyer loans the balance of the property from a bank. This simply means that the bank pays the developer/owner of the real estate property and the buyer pays the bank. The property will be under the bank’s name as collateral just so the bank can go after the property in case of nonpayment.

Advantage:
• has longer payment terms compared to in-house financing (can be up to 20 years in some banks)

Disadvantages:
• the longer the term, the more you end up paying (interest rates).
• banks are usually very strict in terms of approval and late payments

Note for Bank Financing
• Fire and MRI insurance not included.
• Move-in Starts after 16th-18th month.
• Interest rate is reference only.
• Bank's prevailing interest rate will apply upon loan takeout.
• Bank Terms for OFW and locally employed is up to 20 yrs
• Processing Fees include Transfer of Certificate of Title Cost in Bank Financing.
• Developer will process loan. Tied up with Banco De Oro.
• Maturity of Loan is up to 60 years of age.  
 

QUALIFICATION FOR HOUSING LOAN IN BANK.

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Must be Filipino citizen.
Must be presently working.
Must not be more than 50 yrs.
Must be 18 yrs. - 50 yrs. old.
No pending legal cases.
No problem with marital status.
No unpaid credit cards or unpaid loan account.
If Buyer is a Filipino Immigrant, must have a Dual Citizenship.
For OFW, he/she must not working in a war-torn countries.


IN-HOUSE FINANCING

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In-house financing means the buyer pays directly to the developer. The total contract price is usually divided into 1) 30% down payment; and 2) 70% loanable amount. The buyer may choose to pay the down payment in spot cash (with special discount) or in monthly installments (usually up to 15 months, without discounts). After paying the down payment, the balance of 70% will be paid monthly for a given period of time (usually up to 10 years to pay)

Advantages:
• perfect for people who don’t want long term payments.
• interest rates are constant no matter what happens to the economy.
• simplicity of documents required and easy approval.
• no or minimal background check.
• when it comes to late payments, developers are much easier to talk with.

Disadvantage:
• shorter payment terms which means the monthly payment is much bigger (usually 5-10 years to pay).

Note for In- House Financing
• Above computation is inclusive of MRI and Fire Insurance.
• Down payment is extended up to 24 months. Early Move-in starts on the 16th-18th month.
• Transfer of Certificate of Title cost not included.


>>FOR MORE INFO ABOUT FINANCING GUIDELINES KINDLY CLICK HERE<<     


WHY DO YOU SEE DIFFERENT PRICES ON THE INTERNET?

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 • Price is higher for lots facing east or morning sun, than lots facing west and lots located near Entrance Gate & Amenities.
 • A Corner Lot and End Lot are higher than inner lot due to bigger lot area.
 • Total Contract Price will vary depending on financing terms chosen.
 • Price may have increased by the time you viewed the posted ads.
 • Always ask if the units posted in the ads are still available or not.
 • Profriends, Inc. has only ONE PRICELIST for all AGENTS and BROKERS.
 • So be careful and be safe.  Choose your Agents well.